Telefónica Board of Directors and Committee Changes

Telefónica, S.A. announced changes in the composition of its Board of Directors and its Committees. Mr. Francisco Javier de Paz Mancho resigned from his positions as Director, Member of the Executive Commission, and Chairman of the Sustainability and Regulation Committee due to professional reasons and to take on executive responsibilities within the Telefónica Group. Mr. César Mascaraque Alonso was appointed as an Independent Director to fill the vacancy. Additionally, Ms. Ana María Sala Andrés was appointed as the new Chairwoman of the Sustainability and Regulation Committee. The Board of Directors now consists of nine Independent Directors, representing 60% of its total composition. Mr. de Paz will continue in executive roles within the Telefónica Group, including as Deputy Director to the Chairman and responsible for Infrastructure, Real Estate Assets, and Corporate Social Responsibility.